Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Princeton professor accuses Gulen of orchestrating Turkish coup, Harvard professor disagrees

Edward Owen, professor of Middle East history at Harvard, said that he did not believe in Reynold’s certainty of Gülen’s guilt. Owen added that when a person writes “alarmist pieces” like Reynolds’, the main audience for the pieces is Washington. “It is a way of calling attention to yourself, and I imagine that Professor Reynolds would like his name registered by the people in Washington as somebody to go to, to employ, when there is a change in administration in Washington,” Owen said.

Practicing Muslims and negotiating with the Kurdists

DR. İHSAN YILMAZ The Hizmet movement has taken the lead on several sensitive issues in Turkey, ranging from democratization and the EU process to interfaith dialogue. I think it must also take the lead in supporting the peace attempts. It does not have to give a blank check to everyone and can voice its concerns, […]

Austrian politician documents Turkish surveillance abroad [on Gulen movement]

Turkish diplomatic offices around the world are gathering information in a bid to undermine organizations loyal to a Muslim cleric. Turkey is pressing nations to crack down on the Gulen movement’s network of schools and charities outside of the country.

University refuses admission to woman jailed over Gülen links

Ünzile Köşker, who was jailed for alleged links to the Gülen movement, was not allowed to enroll at a university despite passing the nationwide entrance exam because she “posed a risk,” Bold Medya reported.

Muslim world in transition: Contributions of the Gülen Movement

A conference was held in London on Oct. 25-27 to discuss contributions of the Gülen movement, led by Fethullah Gülen. This conference was launched at the House of Lords and was attended by several members of parliament, lords, baronesses, newspaper editors, academics, dignitaries and high-ranking civil servants.

Couple jailed for watching Fethullah Gülen videos at Internet cafe

An Ankara couple has been sent to prison after they were caught watching videos belonging to US-based Turkish scholar Fethullah Gülen at an internet cafe earlier this week.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Gülen lawyers file complaint against prosecutors over wrongful probe

Abduction and torture part of war on Gulenists: Report

After coup, Turkish activist afraid to return home

Police raid successful Gülen-inspired schools in western Turkey

Why Gulen Should Not Be Extradited

Code ‘111′ profiling of ‘Hizmet’ on Parliament’s agenda

Hizmet and self-criticism

Copyright 2026 Hizmet News